4 Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Valean Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 59 59 57 2 points Flights (9) eBook Hint Revenue ($355.000) Expenses Wages and salaries ($3,600 + $92.00) Puel ($32.000) Airport fees (6800 + $35.009) Nircraft depreciation (011.000) office expenses (6250 - $1.004) Total expense Net operating income $ 16,300 $20,945 $ 20,235 8,984 9.020 2,054 1,080 1,824 2.750 2.865 2.795 649 649 627 309 107 14,214 14-239 $ 1,386 $ 6,206 5,038 Print References The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report 4. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) 2. points Actual Results Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 59 + $ 20.945 Planning eBook Budget Flights 59 57 Hint Print $ 16,300 $ 20.235 References 9,028 Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 8,984 2,054 2.750 649 1,888 2,865 649 309 14.739 6,206 8,844 1,824 2,795 627 307 14,397 5,838 477 14,914 1,386 $ $ $